Wife, foundation to share Newman's assets

Published 7:00 pm, Thursday, November 20, 2008

WESTPORT -- Actor Paul Newman, who died in September, left his assets to his wife, actress Joanne Woodward, and to the Newman's Own Foundation he founded, according to a will made public this week.

The 10-time Academy Award nominee died Sept. 26 at age 83 following a long battle with cancer. His will, signed April 11, 2008, was filed in probate court in Connecticut.

Newman left his personal property, including real estate, to Woodward. He left his Oscars and other awards, and his interest in Newman's Own and Salad King to Newman's Own Foundation.

Newman won the best actor Oscar in 1987 for his performance as pool shark "Fast Eddie" Felson in "The Color of Money," a reprisal of the role he portrayed in the 1961 film "The Hustler." He also took home two honorary Academy Awards and had major roles in more than 50 motion pictures, including "Exodus," "Butch Cassidy," "The Verdict," "The Sting" and "Absence of Malice."

In 1982, Newman and writer A.E. Hotchner started Newman's Own to market Newman's original oil-and-vinegar dressing. It began as a joke and grew into a multimillion-dollar business.

Newman and the foundation funded by his food company have given more than $250 million to charity over the years.

Profits from his popular food company also benefit his "Hole in the Wall" camps he helped start across the world for children with life threatening illnesses.

Until two years ago, Newman had the task of personally distributing the company's profits. But he set up a private, independent foundation, known as Newman's Own Foundation, to carry on the work.